Luxembourg-headquartered global stainless steel producer Aperam SA announced its financial results for the first quarter of 2026.
The company recorded a net profit of €3 million in the quarter, compared with a net profit of €29 million in the fourth quarter of 2025, moving to a profit compared with a net loss of €18 million recorded in the same period the previous year. The company's sales revenue increased 16 percent quarter-on-quarter to 1.58 billion euros due to higher shipments, but fell five percent year-on-year. Aperam's adjusted EBITDA increased by 34.3 percent from €67 million in the previous quarter and by 4.7 percent year-on-year to €90 million.
Aperam steel shipments totaled 617,000 tonnes in the first quarter, up 11 percent quarter-on-quarter and 7.3 percent year-on-year due to a seasonal recovery in Europe. The company recorded operating income of €34 million, compared with an operating loss of €29 million in the previous quarter and an operating loss of €11 million in the same period the previous year. Sales revenue in Aperam's stainless and electrical steel segment increased 13.7 percent quarter-on-quarter to €993 million, driven by a 3.6 percent increase in shipments and a 10.3 percent increase in average selling prices.
The company said it expects its adjusted EBITDA in the second quarter of 2026 to be significantly higher compared to the first quarter. Aperam also expects slightly lower net financial debt in the second quarter, despite working capital seasonality, thanks to strong earnings and an efficient integrated value chain.
Commenting on the results, Sud Sivaji, CEO of Aperam, said the company has achieved its best start to the year in three years and that its strong performance in the first quarter supports its diversified business model. Shivaji said that despite geopolitical challenges and energy market volatility in 2026, all segments contributed to value growth, further proving that Aperam is much more than just a European stainless steel company. He added that in Europe, the company is not just waiting for the market to recover, but is also benefiting from a structural shift, and that upcoming trade protection rules provide a strong framework for Aperam to leverage Europe's "growth position" as it continues to pursue its global transformation projects.
